Citi analyst Geoff Meacham downgraded Bristol Myers (BMY) to Neutral from Buy with a price target of $55, down from $75, following a transfer of analyst coverage. The firm sees growth headwinds from the Eliquis and Opdivo loss of exclusivities. Bristol is in a transition period from 2025 through 2027, which will likely add volatility, the analyst tells investors in a research note. As such, Citi sees the company as a 2027 story despite being bullish on its growth portfolio.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BMY:
- Redwire launches investigation to ISS with BMS to study drugs with PIL-BOX
- Evotec and Bristol Myers expand proteomics pact, triggers $50M payment
- AbbVie price target raised to $195 from $185 at BofA
- Uber downgraded, Zoom Video upgraded: Wall Street’s top analyst calls
- Bristol Myers initiated with a Market Perform at Bernstein